Benchmarking is defined "as the continuous, systematic process of measuring ones output and/or work processes against the toughest competitors or those recognized best in the industry." Benchmarking is an approach of setting goals and measuring productivity based on best industry practices. Benchmarking helps in improving performance by learning from best practices and the processes by which they are achieved. Learn [...]
Downsizing literally means reducing the size of the organisation in order to cut costs, hive off unprofitable operations and improve operational efficiency. In fact, it is a restructuring process to meet the challenges of the environment. In the context of human resource management, downsizing involves elimination of certain jobs with a view to cut pay bill and improves work efficiency. [...]
Organisation is a process of dividing and combining efforts of a working group for making such joint efforts more productive, effective and fruitful. Organisation allocates duties to the managerial staff. It adds certainty and promptness to the work to be done. It avoids gaps and overlapping functions. It establishes a neat pattern of relationships among efforts to be put, jobs [...]